Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Karur Vysya Bank Mortgage Loan is Rated as "Great!" by 8 Users

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    Karur Vysya Bank Mortgage Loan

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    Karur Vysya Bank was started in the years 1916. The bank has a lot of innovative products to offer to their customers. Mortgage loan is one such product to cater to the persona and business needs.

    Karur Vysya Bank Mortgage loan is provided to the bank's customers in the form of Term loan and as an overdraft facility. People in India first try to safeguard their financial future by buying a property first so that they know whatever happens, they have a property that can possibly bail them out at the time of need. Having a property also allows a person to take mortgage against the property and make the most of the idle property.

    Purpose of Karur Vysya Bank (KVB) Mortgage Loan

    Karur Vysya Bank offers a mortgage loan to cater to the growing needs of a person’s personal or business needs.

    Eligibility Criteria for Karur Vysya Bank Mortgage Loan

    Individuals who wish to obtain a Karur Vysya Bank Mortgage Loan need to satisfy the following criteria:

    • The loan is available only for resident individuals of India.
    • The loan is granted for personal purpose, consumption, education, health, business etc. other than speculative purposes.
    • The applicant must own the property. If the property is jointly owned, then the title owner must join as co-applicant.
    • Eligibility is based on the person’s last 3 years average income as declared in ITR.
    • Minimum income must be Rs.15,000.
    • The borrower must take an underwriting that the loan is not for speculative purposes.

    Note: The criteria is subject to change at the sole discretion of Karur Vysya Bank.

    Documents Required for Karur Vysya Bank Mortgage Loan

    A borrower is required to furnish the following documents before availing a loan:

    • Application form duly filled.
    • Identity proof it can be either passport, PAN card, employee identity card or other valid proof.
    • Address proof that can be either electricity bill, telephone bill, ration card or other valid proof.
    • Property papers that is the ownership proof and title deed.
    • 3 passport sized photographs.
    • Any other required documents as expressed in the application form must be submitted.

    Features and Benefits of Karur Vysya Bank Mortgage Loan

    Some of the salient features and benefits of Karur Vysya Bank Mortgage loan are:

    • The loan requires minimum documentation and is processed very quickly.
    • Competitive interest rate is offered by Karur Vysya Bank.
    • The property lying idle can now be used to avail funds.
    • Residential and commercial building are accepted as security.
    • Minimum loan amount offered is Rs.10 lakh.
    • The margin is set at 40% of the property value.
    • The maximum repayment tenure offered is 100 months for term loans and 96 months for overdraft limit. The drawing power reduces based on the repayment tenure.
    • Collateral security in the form on deposits, NSCs, life insurance policies, third party guarantees is to be provided in the event primary security is inadequate.
    • Agricultural properties, factories, go downs, cinema halls, schools, restaurants, etc. is not accepted as securities.
    • Guarantee is optional and a suitable guarantor having sufficient net worth is accepted.
    • The processing charges are 0.50% of the loan amount.
    • If you are foreclosing the loan, then 2% of the amount pre-paid has to be paid toward the prepayment charges.

    Karur Vysya Bank Mortgage Loan Interest Rate

    Karur Vysya Bank charges an attractive interest on their mortgage loan. The bank ensures that repaying the loan doesn’t become an additional financial burden on the borrower. The interest rate offered is:

    • 12.90% for individuals.
    • The minimum rate of interest is 12.75%
    • Maximum rate of interest is 13.25%
    • Average rate of interest is 13.25%

    Note - Interest rates charged by Karur Vysya Bank are at their sole discretion and are subject to change without prior intimation.

    Karur Vysya Bank Mortgage Loan Reviews

    • Karur Vysya Bank Personal Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      I have a salary account from KARUR VYSYA bank so I got the loan process was easy they were not much needed with any documents the rate of interest they offered was 18 % which was fine compared to others in the market and the payment will be auto debited from my salary account .
      Was this review helpful? 0
      , vijayawada
      Reviewed on Oct 24, 2017
    • Karur Vysya Bank Personal Loan
      "Personal loan with KARUR VYSYA BANK"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from KARUR VYSYA BANK for 10 lakhs rupees.The rate of interest is 11% for 10 years.The monthly EMI comes around 15000.I got the approval with in 2 days with 3400 as processing fees.Documentation process also gone well without any lagging.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 09, 2017
    • Karur Vysya Bank Personal Loan
      "The best service"
      0.5 5.0/5 "Blown Away!"
      Karur Vysya Bank offered me the personal loan. The documentation part was very simple, they asked me the documents which was easy to produce. I submitted form16, last six month bank statement and salary certificate along with the signature of my institute. Hardly they had taken four days, they delivered such a fast service. I felt easy to go with Karur Vysya Bank. They are good enough.
      Was this review helpful? 1
      , erode
      Reviewed on May 25, 2017
    • Karur Vysya Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I took personal loan with the Karur Vysya bank before some long time and the interest rate was okay with them. Executives were really friendly with the customers on that time and it took around two weeks of time to get the loan amount to be get disbursed to the account.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Mar 18, 2017
    • Karur Vysya Bank Personal Loan
      "Smart"
      0.5 4.0/5 "Great!"
      Based on the exsisting relationship that I have with KVB,I had filled in an application form. That would be all, the rest was taken care by KVB. The management looked in to it and processed by loan. Ofcourse, I was offered a prefential rate of interest but the processing fee is a standard one for all. Best of all, they did not ask for any documents.
      Was this review helpful? 0
      , erode
      Reviewed on Sep 08, 2016
    • Karur Vysya Bank Personal Loan
      "Understand your customers"
      0.5 3.0/5 "Satisfactory"
      Karur Vysya bank has offered me a personal loan because my MD has recommended me. The process for the loan was quick. They offered me a good rate of interest of 13.9%. But they have given me a EMI date of 29th. So have requested them to change it to the 1st of the month as it would be more convenient for me to pay my EMI. But they have not taken up my request. So when ever there is a late payment. They take the interest rate accumulated for those few days.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Oct 22, 2015
    • Karur Vysya Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I got the personal loan with the Karur Vysya Bank for the interest as 9% and am happy with this. Within a week of time I got the loan to be disbursed in my account. Faster process and the less rate of interest is the best with them. From the last 4 years I been with them by having the business account.
      Was this review helpful? 4
      , tirupati
      Reviewed on Oct 05, 2015
    • Karur Vysya Bank Personal Loan
      "Best for loan trasnfer"
      0.5 2.0/5 "Expected more"
      KVB personal loan process is good. My opinion is they should try and create exception. They require a lot of documents and they took more than 40 days of time to provide the loan. Interest rate and processing fee charged by them is fine. There is no issue or hassle with them. I am very much happy with the level of service offered by them. Its an ongoing loan. Interest rate offered by them was 13.99%. It would be great if they were able to take over all the bank loan in one short .
      Was this review helpful? 11
      , hyderabad
      Reviewed on Jun 19, 2015
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